Ordinary annuity-interest is compounded with each payment

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In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the amount of time needed for the sinking fund to reach the given accumulated amount. (Round your answer to two decimal places.) $2500 yearly at 8% to accumulate $100,000.

Reference no: EM131569673

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